According to data released by the State Administration of Foreign Exchange of China (hereinafter referred to as the “Foreign Exchange Administration”) on the 24th, as of the end of March 2022, China’s full-scale (including domestic and foreign currency) foreign debt balance was 17,204.9 billion yuan (equivalent to 2,710.2 billion U.S. dollars, excluding China External liabilities of Hong Kong SAR, Macao SAR of China and Taiwan of China, the same below).
Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesperson, told reporters that the scale of China’s foreign debt in the first quarter of 2022 was relatively stable, down $36.4 billion, or 1%, from the end of 2021. At the same time, the external debt structure remained stable. In terms of the currency structure of foreign debts, as of the end of March 2022, foreign debts in local currencies accounted for 45%; in terms of the maturity structure of external debts, medium and long-term foreign debts accounted for 47%. The proportion of foreign debt in local currency and medium and long-term foreign debt was the same as that at the end of 2021.
Wang Chunying emphasized that in the first quarter of 2022, the scale of China’s foreign debt decreased slightly, mainly due to the complex and volatile external environment, and the purchase of domestic RMB bonds and non-resident deposits by foreign investors decreased. The main indicators of China’s external debt continue to be within the internationally recognized safety line, and external debt risks are generally controllable.
She predicts that the scale of China’s foreign debt will continue to be stable in the future. Although unstable and uncertain factors still exist in the external environment, the fundamentals of China’s economy with strong resilience, sufficient potential and long-term improvement have not changed. The continuous advancement of high-level opening up will continue to attract foreign capital, especially international long-term capital. It is expected that the scale of foreign debt will continue to be stable in the future. The foreign exchange bureau will continue to adhere to the coordinated development and security, continue to improve the level of cross-border investment and financing facilitation, and effectively support the high-quality development of the real economy. (Reporter Xia Bin)Return to Sohu, see more
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